NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Oct. 11:
1.-- U.S. stock futures were rising Friday amid optimism that lawmakers in the U.S. will reach an agreement on raising the nation's debt limit to avoid a default.
European stocks were higher. Asian stocks ended Friday's session with gains. Japan's Nikkei 225 Index rose 1.5%
2.-- The economic calendar in the U.S. Friday includes the University of Michigan sentiment index for October at 9:55 a.m. EDT.
3.--U.S. stocks on Thursday surged after investors cheered a possible short-term agreement between Republicans and Democrats to raise the nation's borrowing limit.4.
The S&P 500 advanced 2.2% to 1,692.56, the benchmark's biggest jump since Jan. 2.
-- President Obama and top administration officials met for 90 minutes with House Speaker John Boehner and other House GOP leaders at the White House on Thursday night -- no agreement was reached on ending the partial government shutdown and on ways to avoid a federal default. However, both sides called the meeting positive and hopes emerged that a resolution might be attainable, even if it only was temporary one.
Obama planned a White House meeting Friday morning with GOP senators, who said they would present options of their own for ending the shutdown and debt limit standoff.
-- JPMorgan Chase
(JPM - Get Report)
, the nation's largest bank, is expected by analysts on Friday to report third-quarter earnings
of $1.19 a share, down 25% from $1.60 a share in the previous quarter and down 15% from $1.40 a share reported a year earlier.
Investors will be on focused on how the bank is handling its mounting legal tab as well as a raft of new regulations and enforcement actions.
-- Wells Fargo
(WFC - Get Report)
may post a 15th consecutive quarter of earnings-per-share growth
, surpassing consensus expectations of a slight decline, as investors in the bank await signs of rising economic growth in the U.S.
(BBRY - Get Report)
founder and former co-CEO Mike Lazaridis is weighing a takeover of the struggling smartphone maker
and has hired Goldman Sachs
and Centerview Partners
to advise on any strategic transactions.
BlackBerry is considering strategic options such as a sale of the company in the wake of disastrous second-quarter earnings, which fell far short of Wall Street consensus and included a $1 billion inventory write-down related to its Z10 smartphone. The company also said it would lay off 40% of its work force in a realignment of its business away from the consumer smartphone market.
Lazaridis' emergence as a possible bidder on BlackBerry, either individually or with a strategic consortium, indicates that the smartphone maker's sale process is heating up. In September, BlackBerry's largest shareholder, Fairfax Financial,
said it intended to buy the company for $9 a share.
-- Shares in Royal Mail
soared Friday in their stock market debut. The U.K. government will raise 1.72 billion pounds ($2.75 billion) from the sale of a majority stake which puts Royal Mail
under private control for the first time in its 500-year history.
-- The Organization for the Prohibition of Chemical Weapons, the group overseeing the destruction's of Syria's chemical weapons stockpile, won the Nobel Peace Prize on Friday.
-- The Detroit Tigers beat the Oakland A's, 3-0, in Game 5 of the American League Division Series on Thursday night and will play the Boston Red Sox in the American League Championship Series that begins on Saturday.
-- Written by Joseph Woelfel
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